We heard the unexpected news that the economy contracted for the first time in three years. For all the pundits who claimed that spending our way out of recession was the answer to our economic recovery, it hasn’t proved worthwhile. However, instead of acknowledging failed policy, the Left resorted to more blame and outright ignorance. …
Archives for January 2013
There is a persistent idea circulating that the current tax margins are really not all that high when compared to past rates. This line of thought is typically used as justifications that 1) the government deserves more revenue and 2) the wealthy taxpayers can afford higher taxes. The truth, however, is that obtusely higher rates in the past were rarely ever paid at that amount because they were easily offset by abundant tax deductions universally used by the wealthy….
This past week, The Hill reported that the cost of Obama’s regulations for his first term were $518 billion, with nearly half of that –$236 billion – coming in the year 2012 alone. Expensive and prohibitive government policies such as these are the driving force behind the mass exodus of businesses abroad….
As the Senate prepares to pass the Sandy Hurricane Relief Act for $50.5 Billion, it’s worthwhile to consider this piece of legislation within the bigger picture of looming the fiscal crises. No one will deny that those citizens who were affected by this catastrophic and legendary storm deserve help. However, the bill perfectly encapsulates the dysfunction of our Congress. In merely a few short weeks, Congress has managed to figure out how to fritter away a year’s worth of revenue that was raised — after many months of wrangling and negotiations….
Did anyone else notice Justice Antonin Scalia’s headgear at the inauguration today?
Richmond Law Professor Kevin Walsh notes on his blog that
“The twitterverse is alive with tweets about Justice Scalia’s headgear for today’s inauguration. At the risk of putting all the fun speculation to an end . . . The hat is a custom-made replica of the hat depicted in Holbein’s famous portrait of St. Thomas More. It was a gift from the St. Thomas More Society of Richmond, Virginia. We presented it to him in November 2010 as a memento of his participation in our 27th annual Red Mass and dinner”.